Freddie Mac: 30-yr fixed mortgage rate 5.66% vs 5.62%

CarolynPritchard

SAN FRANCISCO (MarketWatch) -- Most U.S. fixed-rate mortgages rose in the week ending Thursday, with the benchmark 30-year loan rising to 5.66% from 5.62% a week earlier, Freddie Mac said. The mortgage agency said its weekly survey also showed a rise for the 15-year loan, to 5.25% from 5.20%, and the one-year Treasury-indexed adjustable rate, which averaged 4.39% vs. 4.33% a week earlier. The five-year hybrid ARM, meanwhile, fell to 5.15% from 5.19%. "Over the past few weeks, financial markets have been gearing up for greater growth in the economy, which ultimately leads to higher inflation rates," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. "As a result, mortgage rates increased for the second straight week."

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